Private Offering Provides Semtech Corp. With Working Capital
Semtech Corp. in Newbury Park has completed a private offering of $350 million of its 4 1/2% convertible subordinated notes, which are due in 2007.
The notes are convertible into the company’s common stock at a price of $84.46 per share.
The company said it intends to use the proceeds for general corporate purposes, including working capital, expansion of sales, marketing and customer service capabilities, and product development.
In addition, the company may use a portion of the proceeds to acquire or invest in complementary businesses, technologies, services or products.
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